WARSAW (Thomson Financial) - Bank BPH, sold to GE Money as part of
UniCredit's merger of Polish units, said first-quarter net profit from continued
operations jumped 21 percent thanks to growing loan volumes and rising deposits.
Net profit increased to 47 million zlotys in the quarter ended March 31 from
adjusted 38.9 million a year earlier, the bank said in a regulatory filing later
on Thursday.
Net interest income surged 44 percent driven by a 25 percent rise in loans
to small and medium-sized companies and 34 percent growth in retail deposits.
UniCredit last year agreed to spin off and sell 200 branches of Bank BPH to
GE Money, a unit of General Electric, to gain Polish authorities' approval for a
merger of its local units under Bank Pekao brand.
piotr.skolimowski@thomsonreuters.com +48 22 447 24 36
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